eureka tower
Usually around 500,000 visit per year occur at the Skydeck. Image – Canva
  • Melbourne’s Skydeck, ground floor retail and high-end restaurant at Eureka Tower are for sale
  • Reports suggest the sale could be worth $45 million
  • Strata titled properties are owned by Journey Beyond, part of Quadrant Private Equity

Melbourne’s Skydeck and the accompanying high-end restaurant on the 88th and 89th floors, along with ground-floor retail, at the Eureka Tower are up for grabs.

Several reports suggest the sale will total around $45 million.

The strata-titled properties are currently operated by Journey Beyond, a tourism and hospitality operator, who amongst their interests include The Ghan, Indian Pacific, Outback Spirit Tours and Horizontal Falls Seaplane Adventures.

Journey Beyond is owned by private equity firm Quadrant.

Under the buy-and-lease-deal, Journey Beyond will stay in place with an initial 20-year lease. Commencement rents begin at $3.3 million before fixed annual increases.

Approximately 500,000 individuals visit the Skydeck usually, although the closure of international borders almost a year ago and Melbournes multiple lockdowns have unsurprisingly lowered this figure.

It is noted there is a separate lift to the Skydeck – something to take into consideration in a post-Covid world.

At 297.3 metres tall, the Eureka Tower was the world’s tallest residential building until overtaken by the 310m tall Ocean Heights skyscraper in Dubai. It is currently the third tallest to roof building after Australia 108 – also in Melbourne- and the Q1 in Queensland.

Another fun fact is that the Eureka Skydeck itself is the highest public vantage point in the entire Southern Hemisphere.

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